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Summary

Global Marketing Management prepares the reader to become an effective manager, overseeing global marketing activities in an increasingly competitive environment. The approach presents marketing with an interdisciplinary, cross-functional perspective, where the marketer has a sound understanding of how the various functional areas interface with marketing.

Author Biography

Masaaki "Mike" Kotabe holds the Washburn Chair Professorship in International Business and Marketing and is Director of Research at the Institute of Global Management Studies at the Fox School of Business and Management at Temple University. Prior to joining Temple University in 1998, he was Ambassador Edward Clark Centennial Endowed Fellow and Professor of Marketing and International Business at the University of Texas at Austin. Dr. Kotabe also served as the Vice President of the Academy of International Business in the 1997-1998 term. He received his Ph.D. in Marketing and International Business from Michigan State University. Dr. Kotabe teaches international marketing, global sourcing strategy, and Asian business practices at the undergraduate and MBA levels and theories of international business at the doctoral level. He has lectured widely at various business schools around the world. For his research, he has worked closely with leading companies such as AT&T, NEC, Nissan, Philips, Sony, and Ito-Yokado (parent of 7-eleven stores), and served as adviser to the United Nations' and World Trade Organization's Executive Forum on National Export Strategies. Dr. Kotabe has written many scholarly publications. His research has appeared in numerous journals including Journal of Marketing, Journal of International Business Studies, Strategic Management Journal, and Academy of Management Journal. His books include Global Sourcing Strategy: R&D Manufacturing, Marketing Interfaces (1992), Japanese Distribution System (1993), Anticompetitive Practices in Japan (1996), MERCOSUR and Beyond (1997), Marketing Management (2001), Market Revolution in Latin America: Beyond Mexico (2001), and Emerging Issues in International Business Research (2002). He currently serves as the Editor of the Journal of International Management and is or has been on the editorial boards of numerous other journals. He also serves as an Adviser to the Institute of Industrial Policy Studies (IPS) National Competitiveness Report. In the 1997 issue of Journal of Teaching in International Business, Dr. Kotabe was ranked the most prolific international marketing researcher in the world in the last 10 years. He has been recently elected a Fellow of the Academy of International Business for his significant contribution to international business research and education. He is also an elected member of the New York Academy of Sciences.

Kristiaan Helsen has been Associate Professor of Marketing at the Hong Kong University of Science and technology (HKUST) since 1995. Prior to joining HKUST, he was on the faculty of the University of Chicago for five years. He has lectured at Nijenrode University (Netherlands), Purdue University, the Catholic University of Lisbon, and CEIBS (Shanghai). Dr. Helsen received his Ph.D. in Marketing from the Wharton School of the University of Pennsylvania. His research areas include promotional strategy, competitive strategy, and hazard rate modeling. His articles have appeared in journals such as Marketing Science, Journal of Marketing, Journal of Marketing Research, and European Journal of Operations research, among others. Dr. Helsen is on the editorial boards of the International Journal of Research in Marketing and the Journal of Marketing.

Table of Contents

Globalization Imperative

p. 1

Why Global Marketing is Imperative

p. 2

Globalization of Markets: Convergence and Divergence

p. 8

International Trade versus International Business

p. 10

Who Manages International Trade?

p. 11

Evolution of Global Marketing

p. 12

What is Marketing?

p. 12

Domestic Marketing

p. 13

Export Marketing

p. 15

International Marketing

p. 16

Multinational Marketing

p. 16

Global Marketing

p. 17

The Impact of Economic Geography and Climate on Global Marketing

p. 18

Short Cases

p. 22

Theories of International Trade and the Multinational Enterprise

p. 23

Economic Environment

p. 31

Intertwined World Economy

p. 32

Foreign Direct Investment

p. 35

Portfolio Investment

p. 36

Country Competitiveness

p. 38

Changing Country Competitiveness

p. 38

Human Resources and Technology

p. 38

Emerging Economies

p. 40

China

p. 42

India

p. 46

Russia

p. 51

Evolution of Cooperative Global Trade Agreements

p. 55

General Agreements on Tariffs and Trade

p. 55

World Trade Organization

p. 56

Information Technology and the Changing Nature of Competition

p. 61

Value of Intellectual Property in Information Age

p. 61

Proliferation of E-Commerce and Regulations

p. 63

Regional Economic Arrangements

p. 64

Free Trade Area

p. 64

Customs Union

p. 67

Common Market

p. 67

Monetary Union

p. 67

Political Union

p. 67

Multinational Corporations

p. 68

Short Cases

p. 72

Financial Environment

p. 75

Historical Role of The U.S. Dollar

p. 76

Development of the Current International Monetary System

p. 77

The Bretton Woods Conference

p. 77

The International Monetary Fund

p. 78

The International Bank for Reconstruction and Development

p. 79

Fixed versus Floating Exchange Rates

p. 80

Currency Blocs

p. 80

Foreign Exchange And Foreign Exchange Rates

p. 82

Purchasing Power Parity

p. 82

Forecasting Exchange Rate Fluctuation

p. 84

Coping with Exchange Rate Fluctuations

p. 84

Spot versus Forward Foreign Exchange

p. 86

Exchange Rate Pass-Through

p. 87

Balance of Payments

p. 89

The Internal and External Adjustments

p. 91

Economic and Financial Turmoil Around the World

p. 93

Asian Financial Crisis and Its Aftermath

p. 93

The South American Financial Crisis and Its Aftermath

p. 95

Financial Crises in Perspective

p. 96

Responses to the Regional Financial Crises

p. 96

Marketing in Euro-Land

p. 99

Historical Background

p. 99

Ramifications of the Euro for Marketers

p. 102

Short Cases

p. 107

Global Cultural Environment and Buying Behavior

p. 110

Definition of Culture

p. 112

Elements of Culture

p. 113

Material Life

p. 113

Language

p. 114

Social Interactions

p. 117

Aesthetics

p. 118

Religion

p. 121

Education

p. 123

Value Systems

p. 124

Cross-Cultural Comparisons

p. 127

High- versus Low-Context Cultures

p. 127

Hofstede's Classification Scheme

p. 128

Project Globe

p. 131

World Value Survey (Wvs)

p. 131

Adaptation To Cultures

p. 133

Culture and The Marketing Mix

p. 135

Product Policy

p. 135

Pricing

p. 136

Distribution

p. 137

Promotion

p. 137

Organizational Cultures

p. 138

Global Account Management (GAM)

p. 140

Global Accounts' Requirements

p. 140

Managing Global Account Relationships

p. 141

Global Customer Relationship Management (CRM)

p. 142

Motivations

p. 143

Gains from CRM

p. 143

Challenges

p. 144

Guidelines for Successful CRM Implementation

p. 144

Short Cases

p. 147

Political and Legal Environments

p. 149

Political Environment-Individual Governments

p. 150

Home Country versus Host Country

p. 150

Structure of Government

p. 152

Government Policies and Regulations

p. 153

Political Environment-Social Pressures and Political Risk

p. 161

Social Pressures and Special Interests

p. 162

Management of the Political Environment

p. 163

Terrorism and The World Economy

p. 168

International Agreements

p. 170

Group of Seven (G-7) and Group of Eight (G-8)

p. 171

Coordinating Committee for Multilateral Controls (COCOM)

p. 172

International Law and Local Legal Environment

p. 172

International Law

p. 173

Local Legal Systems and Laws

p. 173

Jurisdiction

p. 177

Issues Transcending National Boundaries

p. 177

ISO 9000 and 14000

p. 177

Intellectual Property Protection

p. 178

International Treaties for Intellectual Property Protection

p. 183

Antitrust Laws of the United States

p. 184

Antitrust Laws of the European Union

p. 187

U.S. Foreign Corrupt Practices Act of 1977

p. 187

Short Cases

p. 193

Global Marketing Research

p. 196

Research Problem Formulation

p. 198

Secondary Global Marketing Research

p. 200

Secondary Data Sources

p. 200

Problems with Secondary Data Research

p. 202

Primary Global Marketing Research

p. 203

Focus Groups

p. 204

Survey Methods for Cross-Cultural Marketing Research

p. 205

Market Size Assessment

p. 209

Method of Analogy

p. 209

Trade Audit

p. 212

Chain Ratio Method

p. 212

Cross-Sectional Regression Analysis

p. 213

New Market Information Technologies

p. 214

Management of Global Marketing Research

p. 217

Selecting a Research Agency

p. 217

Coordination of Multicountry Research

p. 217

Global Segmentation and Positioning

p. 222

Reasons For International Market Segmentation

p. 223

Country Screening

p. 223

Global Marketing Research

p. 224

Entry Decisions

p. 224

Positioning Strategy

p. 224

Resource Allocation

p. 225

Marketing Mix Policy

p. 225

International Market Segmentation Approaches

p. 227

Segmentation Scenarios

p. 229

Bases For Country Segmentation

p. 230

Demographics

p. 231

Socioeconomic Variables

p. 231

Behavior-Based Segmentation

p. 235

Lifestyle

p. 235

International Positioning Strategies

p. 237

Uniform versus Localized Positioning Strategies

p. 237

Universal Positioning Appeals

p. 240

Global, Foreign, and Local Consumer Culture Positioning

p. 241

Short Cases

p. 245

Segmentation Tools

p. 246

Global Marketing Strategies

p. 248

Information Technology and Global Competition

p. 249

Electronic Commerce (E-Commerce)

p. 249

Real-Time Management

p. 251

Online Communication

p. 251

E-Company

p. 252

Faster Product Diffusion

p. 252

Global Citizenship

p. 253

Global Strategy

p. 253

Global Industry

p. 253

Competitive Structure

p. 256

Gaining Competitive Advantage

p. 259

Interdependency

p. 263

Global Marketing Strategy

p. 263

Benefits of Global Marketing

p. 264

Limits to Global Marketing

p. 266

Regionalization of Global Marketing Strategy

p. 269

Cross-Subsidization of Markets

p. 269

Identification of Weak Market Segments

p. 272

Use of the "Lead Market" Concept

p. 272

Marketing Strategies for Emerging Markets

p. 274

Competitive Analysis

p. 275

Short Cases

p. 279

Global Market Entry Strategies

p. 283

Selecting The Target Market

p. 284

Choosing The Mode of Entry

p. 286

Decision Criteria for Mode of Entry

p. 286

Mode-of-Entry Choice: A Transaction Cost Explanation

p. 290

Exporting

p. 291

Licensing

p. 293

Benefits

p. 293

Caveats

p. 294

Franchising

p. 295

Benefits

p. 295

Caveats

p. 295

Contract Manufacturing (Outsourcing)

p. 296

Benefits

p. 297

Caveats

p. 297

Expanding Through Joint Ventures

p. 298

Benefits

p. 299

Caveats

p. 299

Drivers Behind Successful International Joint Ventures

p. 300

Entering New Markets Through Wholly Owned Subsidiaries

p. 302

Benefits

p. 303

Caveats

p. 303

Acquisitions and Mergers

p. 303

Greenfield Operations

p. 305

Creating Strategic Alliances

p. 305

Types of Strategic Alliances

p. 305

The Logic behind Strategic Alliances

p. 306

Cross-Border Alliances That Succeed

p. 306

Timing of Entry

p. 307

Exit Strategies

p. 309

Reasons for Exit

p. 309

Risks of Exit

p. 310

Guidelines

p. 311

Short Cases

p. 315

Alternative Country Screening Procedure

p. 317

Global Sourcing Strategy

p. 318

Extent and Complexity of Global Sourcing Strategy

p. 320

Trends In Global Sourcing Strategy

p. 323

The Decline of the Exchange Rate Determinism of Sourcing

p. 324

New Competitive Environment Caused by Excess Worldwide Capacity

p. 324

Innovations in and Restructuring of International Trade Infrastructure